WEDNESDAY, 19 SEP 2018

 

CONNECT

Facebook Linked In Twitter
GAP_Group_2018_728x90px
GloriaJeans_266x90px
IMH LTD

Syllouris Pays an Official Visit to Hungary

Anastasiades and Tsipras Discuss Bilateral Cooperation and Developments on Cyprus Issue

IMH LTD
PWC_14/09-21/09_468x60px

BUSINESS

brought to you by Deloitte

Shell Seeking $25B Gas Deal with Cyprus and Israel

Shell Seeking $25B Gas Deal with Cyprus and Israel

Energy giant Shell is in talks to purchase $25 billion in natural gas from Israel and Cyprus, a report in Globes said Sunday 11 March. The report quoted sources at Bloomberg, who first reported the story last Thursday.

The report said that Shell was seeking to contract with the two countries for 10 billion cubic meters of natural gas annually from Israel’s Leviathan and Cyprus’s Aphrodite gas fields. According to Bloomberg, all three parties involved are seeking to sign a deal by the end of 2018.

This is the second time that Shell has sought to purchase gas from the Leviathan field. The first attempt was in 2016, when the partnership that developed the field – Delek Drilling, Noble Energy, and Ratio Oil Exploration – sought to close a deal with BG Group, which was subsequently acquired by Shell. That deal, though completed, was never consummated, and fell by the wayside in the wake of Israel’s reevaluation of taxes and licensing fees to be imposed on the Leviathan partners.

Development of Leviathan, the biggest infrastructure project in Israeli history, began last year. According to the latest reports by the partnership to the Tel Aviv Stock Exchange, gas should begin to flow from the field at the end of 2019. Delek Drilling, controlled by Israeli millionaire Yitzchak Tshuva, owns 45.3 percent of the field, while U.S.-based Noble Energy owns 39.7 percent of it. Ratio owns the balance.

MORE ON BUSINESS

Meet the experts at the 2nd Cyprus HealthCare Conference Gala Dinner

The 2nd Cyprus HealthCare Conference Gala Dinner which will take place on 27 September ...

12th Cyprus-Russia Gala Organised at the Presidential Palace

The 12th Cyprus-Russia Gala took place at the Presidential Palace in Cyprus on the 15th ...

2nd Cyprus Open Data Hackathon Crowned with Success

The 2nd Cyprus Open Data Hackathon was held on the 15th and 16th September 2018 with ...

FROM AROUND GOLDNEWS

   

Professor Costas Markides to Give a Talk at the Phoenix Leaders Club

With any new term comes even better opportunities at The Club, and this September is no different. This Autumn the team at The Club ...
   

IBM Launches Tool Aimed at Detecting AI Bias

IBM wants to help companies mitigate the chances that their artificial intelligence technologies unintentionally discriminate against certain groups like ...
   

Perrier Bids Farewell to Summer in the Most #extraordinaire Way

On Wednesday 12th September 2018, Perrier bid farewell to the summer, in the most #extraordinaire way! 150 extraordinaire guests, received an invitation ...
   

Cyprus Raises €1.5 billion from Ten-Year Bond

The Republic of Cyprus has issued a ten year European Medium-Term Note (EMTN) which was oversubscribed by more than five and a half times.  The ...
   

Cyprus and Egypt Sign Agreement for Subsea Gas Pipeline

Cyprus and Egypt sign an inter-state agreement concerning a subsea pipeline to carry Cypriot natural gas to Egypt. Cyprus’ Energy Minister Yiorgos ...
   

Meet the experts at the 2nd Cyprus HealthCare Conference Gala Dinner

The 2nd Cyprus HealthCare Conference Gala Dinner which will take place on 27 September 2018 at the European University Cyprus will combine entertainment ...
   

Global Fintech Investment Roars Ahead at a Record Pace in First Half of 2018

Global fintech investment reached US$ 57.9B invested across 875 deals in H1’18, a significant increase from the US$ 38.1B invested in all of 2017, ...
   

12th Cyprus-Russia Gala Organised at the Presidential Palace

The 12th Cyprus-Russia Gala took place at the Presidential Palace in Cyprus on the 15th September 2018 under the high patronage of the First Lady of the ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Cablenet_06/09-07/10_300x250px
GloriaJeans_300x250px

IMH LTD